Archer Aviation Inc. (NYSE:ACHR – Get Free Report) CFO Priya Gupta sold 9,860 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $58,667.00. Following the transaction, the chief financial officer directly owned 189,050 shares in the company, valued at $1,124,847.50. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Priya Gupta also recently made the following trade(s):
- On Friday, March 13th, Priya Gupta sold 7,263 shares of Archer Aviation stock. The stock was sold at an average price of $6.27, for a total transaction of $45,539.01.
- On Thursday, March 5th, Priya Gupta sold 10,172 shares of Archer Aviation stock. The stock was sold at an average price of $6.46, for a total transaction of $65,711.12.
Archer Aviation Price Performance
Shares of ACHR stock opened at $6.12 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The firm’s 50-day moving average is $5.85 and its two-hundred day moving average is $7.14. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62. The company has a market capitalization of $4.55 billion, a PE ratio of -5.56 and a beta of 3.13.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ACHR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group reduced their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Needham & Company LLC reduced their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.
View Our Latest Report on ACHR
Institutional Investors Weigh In On Archer Aviation
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Archer Aviation by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after acquiring an additional 2,312,899 shares during the period. ARK Investment Management LLC raised its stake in shares of Archer Aviation by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after acquiring an additional 3,869,252 shares during the period. State Street Corp raised its stake in shares of Archer Aviation by 11.2% in the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after acquiring an additional 3,293,130 shares during the period. Morgan Stanley raised its stake in shares of Archer Aviation by 21.6% in the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after acquiring an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Archer Aviation by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after acquiring an additional 1,867,648 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.
Archer Aviation Company Profile
Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.
Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.
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